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FxWirePro:GBP/AUD losses could deepen with a break of key obstacle

• GBP/AUD declined on Friday  as pound suffered on the back of the BoE's dovish surprise Thursday.

• Bank of England kept rates at 0.1% vs 15 bps hike priced by money markets.

• Bears are in control, bulls need to close above (61.8% fib) 1.8373 to end slow downtrend.  

• Technical are bearish, daily RSI is negative at 37, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.8257(5 DMA ), any close above will push the pair towards 1.8285 (50% fib).

• Strong support is seen at 1.8197(38.2%fib) and break below could take the pair towards 1.8090 (23.6%fib).

Recommendation: Good to sell on  around 1.8230, with stop loss of 1.8350 and target price of 1.9160
 

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